tv Today in Washington CSPAN February 3, 2010 2:00am-6:00am EST
as with any new regulatory approach, the authority provided in the appropriate supervisory agency should be carefully specified. it also needs to be broad enough to encompass efforts sure to come to circumvent the intent of the law. we don't need or want a bank based fund that would function as head toward equity funds. similarly every banker i speak with knows very well what proprietary trading means and applies. my understanding is only a handful of large commercial banks, maybe four or five in the united states and perhaps a couple of a dozen world wide are engaged in this activity in volume. in the past did sometimes explicitly label a trading affiliate of decision as proprietary. with a connotation the activity is or should be insulated from customer relations.